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Apex International Financial Q1 loss widens YOY

Apex International Financial Engineering Res. & Tech. Co. Ltd said its normalized net income for the first quarter was a loss of 20 Taiwan cents per share, compared with a loss of 7 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$12.8 million, compared with a loss of NT$4.9 million in the prior-year period.

The normalized profit margin fell to negative 26.2% from negative 6.9% in the year-earlier period.

Total revenue fell 31.4% year over year to NT$48.9 million from NT$71.3 million, and total operating expenses fell 11.3% from the prior-year period to NT$69.6 million from NT$78.5 million.

Reported net income totaled a loss of NT$22.5 million, or a loss of 35 cents per share, compared to a loss of NT$7.3 million, or a loss of 11 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.